Paytm: To raise $2.2bn in IPO
- Paytm is India’s largest payments company that offers multi-source and multi-destination payment solutions
- Indian digital payments giant is seeking to raise up to $2.2 billion in an initial public offering
- In draft papers submitted to regulators, it will issue new shares worth 83 billion rupees (about $1.1 billion)
- The company is also in talks about a potential pre-IPO placement of 20 billion rupees
- It will use the proceeds to grow its payments ecosystem and invest in new areas, make acquisitions
- It has also found itself facing increased competition from a host of US giants, with WhatsApp, Google, Amazon, and Walmart
